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Welcome to Brokerless, Inc. |
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Brokerless is an interactive, web based, flat fee Multiple Listing Service broker/provider. Brokerless has developed a platform that will give its web customers the ability to submit their own listings, via the website, and have the data transmitted directly to Brokerless.
 Paying a flat fee for an MLS listing means more equity in your pocket! All the advantages associated with an MLS listing will be available to you at a fraction of the cost. As a result, there will be no additional listing fees owed specifically to Brokerless. Typically, those fees run from 2.5% to 3.5% of the selling price, and are normally paid to the Listing Broker at closing. Fees vary by State, County, and Broker.
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Written by Brokerless, Inc.
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Closing (or settlement as it is known in some parts of the US) represents the final stage when transferring title to real property from one person to another. The closing date is set forth in the real estate contract, executed by both parties, and usually takes place several weeks subsequent to the contract's effective date. |
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RESPA stands for the Real Estate Settlement Services Procedures Act. RESPA is about closing costs and settlement procedures. RESPA requires that consumers receive disclosures at various times in the transaction and outlaws kickbacks that increase the cost of settlement services. RESPA is a HUD consumer protection statute designed to help homebuyers be better shoppers in the home buying process, and is enforced by HUD. |
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Written by Brokerless, Inc.
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Flat fee MLS (a.k.a For Sale By Owner MLS or limited service MLS) is a term used to describe a practice in the real estate industry in which realtors place pertinent information about a property for sale into the database of the local Multiple Listing Service (MLS) for a set fee or dollar amount as opposed to a commission based on the contract selling price of the property. The seller's home is essentially marketed in cyberspace (i.e. cyberspace home selling) for a specific period of time (or until sold) for this one time flat (or fixed) fee. |
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Written by Brokerless, Inc.
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The flat fee that you pay replaces the much higher listing fee, usually 2.5% to 3.5% of the sales price, that you otherwise would pay if you were using a full service Listing Broker in your local area. As a result, you will not pay us additional fees that are typically based on the contract selling price. |
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Consumers Save Thousands! |
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Consumers may now only purchase those services they actually need or want. A recent U.S. Department of Justice study found that “Consumers Can Save Thousands of Dollars in Commissions” by using a flat fee mls service when selling their home. |
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Flat Fee MLS v. Full Service |
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Written by Brokerless, Inc.
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Let's assume that your house sold for $300,000.00 (Three Hundred Thousand Dollars) and that, in connection with your sale, you paid a flat fee of $300.00 (Three Hundred Dollars) to the listing broker who listed your property in the MLS and 3% of the contract selling price (or $9,000.00) to the buyer's agent for bringing you the buyer. In this instance, your total out of pocket expense for real estate brokerage services would be $9,300.00 (Nine Thousand Three Hundred Dollars). |
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